The SPDR® S&P® Homebuilders ETF (ticker: XHB), an exchange traded fund and a series portfolio of the SPDR® Series Trust, today announced changes to its portfolio composition and to purchases and redemptions of its creation units effective Friday, December 4, 2009.
Deposit securities for all creations and fund securities for all redemptions of creation units of the SPDR S&P Homebuilders ETF will consist of a reduced weighting in Meritage Homes (ticker: MTH). It is expected that the weighting of Meritage Homes will be reduced by 50 percent, more or less, as of the close of business on Friday, December 4, 2009. Due to this reduction, the list of securities applicable to all purchase and redemption orders for the SPDR S&P Homebuilders ETF placed on Friday, December 4, 2009 will be based on the reduced portfolio weighting in Meritage Homes Corp. This change in the portfolio weighting and the corresponding change in purchase and redemption orders of creation units of the SPDR S&P Homebuilders ETF will remain in effect until further notice. Additionally, the SPDR S&P Homebuilders ETF will maintain this reduced weighting of Meritage Homes in its portfolio until further notice.
The objective of the SPDR S&P Homebuilders ETF, before expenses, seeks to closely match the returns and characteristics of the S&P Homebuilders Select Industry index™ (ticker: SPSIHOTR). The S&P Homebuilders Select Industry Index represents the home building sub-industry portion of the S&P Total Stock Markets Index™.
State Street Global Advisors is one of the largest ETF providers in the United States and globally. US assets under management for SPDR ETFs totaled more than $159 billion as of October 30, 2009.
About State Street Global Advisors
State Street Global Advisors, the investment management arm of State Street Corporation (NYSE: STT), delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.7 trillion in assets under management at September 30, 2009, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Montreal, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 26 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.
Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a summary prospectus or prospectus that contains this and other information, call 1-866-787-2257 or visit spdrs.com. Please read the prospectus carefully before investing.
ETFs trade like stocks, are subject to investment risk and will fluctuate in market value.
The investment return and principal value of an investment will fluctuate in value, so that when shares are sold or redeemed, they may be worth more or less than when they were purchased. Although shares may be bought or sold on an exchange through any brokerage account, shares are not individually redeemable from the fund. Investors may acquire shares and tender them for redemption through the fund in large aggregations known as “creation units.” Please see the fund’s prospectus for more details.
The “SPDR” trademark is used under license from The McGraw-Hill Companies, Inc. (“McGraw-Hill”). No financial product offered by State Street Global Advisors, a division of State Street Bank and Trust Company, or its affiliates is sponsored, endorsed, sold or promoted by McGraw-Hill. Standard & Poor’s ®, S&P ®, SPDR® and S&P 500 ®are trademarks of The McGraw-Hill Companies, Inc., and have been licensed for use by State Street Bank and Trust Company.
Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Corporation.
Contacts:
Marie McGehee, 617-664-1898
